SEC Commissioner Urges ‘Top-to-Bottom’ Review of Disclosures

Really, is that the best he can do? Yet another pointless statement from the SEC. The obvious questions: 1) where was the SEC during the prior 20 years (answer - approving all the changes); 2) Why the SEC Division of Corporate Finance continue to harp on companies for more disclosure through the comment letter process; 3) Why does the SEC Commission continue to make silly statements without solutions (answer - because it makes them feel good).

9:47 am February 23, 2013

AW2 Navy wrote:

Should be working on more disclosure from the Big 4 operating in China - not sure why we are spinning our wheels about the MD&A section.....Conflict minerals disclosure...really?

11:09 am February 23, 2013

Thanks for Nothing wrote:

At one time, an individual investor could go through a company's SEC's filings and know what the company was all about. That is no longer true. First, there is all of the political-motivated disclosures, such as conflict minerals, diversity programs on the board, etc. These add pages and expense, and most individuals don't care about these topics. Second, requred disclosures have become so complex that only trained analysts can parse the disclosures. Third, fear of litigation has led companies to load up the disclosures. Every press release does not warrant the filing of a Form 8-K.
Unfortunately, it would be very hard to fix this mess.

12:45 pm February 24, 2013

Anonymous wrote:

This would be the same corrupt fool that believes banking self-regulation is a success and that the SEC and other regulators should be more hands off. While on the Commission Staff Tony has brought absolutely nothing to the party but distraction. He wants to loosen everything and make the markets a free-for-all with wild west rules and may the richest survive at all cost.

3:59 pm February 25, 2013

Rapido wrote:

"Disclosure overload?" Did I read that right? Does the SEC really believe that companies are disclosuing too much or are they not disclosing what they really should be?

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